Blue Owl Capital Inc. · NYSE:OWL
Blue Owl Capital — Blue Owl Technology Finance Corp. II — Q4 2024 Earnings Presentation
14 slides from Blue Owl Capital's earnings presentation, March 2025
Slide 1: Blue Owl Technology Finance Corp. II Quarterly Earnings Presentation
December 31, 2024 Blue Owl Technology Finance Corp. II Quarterly Earnings Presentation FINANCIAL REPORTING PROVIDED TO INSTITUTIONAL AND EXISITING INVESTORS ONLY. NOT MARKETING MATERIAL. PROPRIETARY AND CONFIDENTIAL 1
Slide 2: Review of Q4 2024
Review of Q4 2024 • Net asset value per share of $15.55, down from $15.77 as of 9/30/2024, partially driven by the $0.29 per share special dividend in Q4’24 • Net investment income per share of $0.38, down from $0.46 as of 9/30/2024 • Net income per share of $0.37, down from $0.45 as of 9/30/2024 Ea
Slide 3: Financial Highlights
Financial Highlights (Dollar amounts in thousands, except per share data; per share data is based on weighted average shares outstanding during the period, except as otherwise noted) Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Net Investment Income Per Share $0.42 $0.46 $0.50 $0.46 $0.38 Net Realized a
Slide 4: Portfolio Highlights
Portfolio Highlights As of and For Three Months Ended (Dollar amounts in thousands) December 31, 2023 March 31, 2024 June 30, 2024 September 30, 2024 December 31, 2024 Investments at Fair Value $3,807,639 $3,985,044 $4,613,325 $5,083,969 $5,380,733 Number of Portfolio Companies 90 98 113 122 125 Ave
Slide 5: Portfolio Highlights – New Portfolio Activity
Portfolio Highlights – New Portfolio Activity (Dollar amounts in thousands) For Three Months Ended December 31, 2023 March 31, 2024 June 30, 2024 September 30, 2024 December 31, 2024 Investment Activity at Par: New Investment Commitments (Net of Sell Downs) $557,030 $413,065 $1,716,268 $714,292 $71
Slide 6: Portfolio Highlights – Asset Mix
Portfolio Highlights – Asset Mix 125 32 $277mm $5.4bn Portfolio Portfolio Portfolio Company 10.9% Portfolio Size EBITDA1 Debt Portfolio Yield2 Companies Industries (Traditional Financing) <1% 4% Weighted Average Borrower Statistics1: 6% 2% 2% Traditional Financing Q3 2024 Q4 2024 (89.9% of portfoli
Slide 7: Portfolio Highlights – Diversification
Portfolio Highlights – Diversification Borrower Diversification Industry Diversification (By End Market) Systems Software 20.3% Kaseya: 3.1% CSI: 2.8% Application Software 15.1% Grayshift: 2.8% NPD: 2.7% Health Care Technology 10.9% Anaplan: 2.7% Sitecore: 2.7% Diversified Financial Services 10.5% K
Slide 8: Quarterly Statements of Financial Condition
Quarterly Statements of Financial Condition As of (Dollar amounts in thousands, except per share data; per share data is December 31, 2023 March 31, 2024 June 30, 2024 September 30, 2024 December 31, 2024 based period end shares, except as otherwise noted) Assets Investments at Fair Value $3,807,639
Slide 9: Quarterly Operating Results Detail
Quarterly Operating Results Detail For the Three Months Ended (Dollar and share amounts in thousands) December 31, 2023 March 31, 2024 June 30, 2024 September 30, 2024 December 31, 2024 Investment Income Interest Income $101,435 $108,962 $126,492 $137,802 $136,474 Dividend Income $10,486 $11,667 $1
Slide 10: Net Asset Value Per Share Bridge
Net Asset Value Per Share Bridge $15.77 $0.38 ($0.29) ($0.29) ($0.01) $15.55 Q3'24 Q4'24 Q4'24 Q4'24 Q4'24 Q4'24 NAV per Share Regular Net Investment Special Dividend Realized & Change in NAV per Share Dividend Income Unrealized Gain (Loss) and Other As of 12/31/24. Note: Per share data was derived
Slide 11: Portfolio Highlights – Internal Portfolio Ratings
Portfolio Highlights – Internal Portfolio Ratings There were no investments on non-accrual as 12/31/24 (Dollar amounts in thousands) Internal March 31, 2024 June 30, 2024 September 30, 2024 December 31, 2024 Performance Rating Investments at % of Total Investments at % of Total Investments at % of
Slide 12: Debt Obligations and Maturity Ladder
Debt Obligations and Maturity Ladder Aggregate Principal Principal Amount Debt Maturities4 ($mm) Amount Interest Rate Maturity Date Committed / Outstanding Outstanding $3,728 Revolving Credit Facility $1,275 million $410 million SOFR + 175-187.5 12/20/2029 Subscription Credit $480 million $480 milli
Slide 13: Dividend Information
Dividend Information Annualized Dividend Yield Based on NAV1 15.0% 9.7% $0.29 8.5% 7.7% 7.8% 7.4% 7.4% 6.6% Quarterly Base Dividend 4.4% $0.38 $0.29 $0.30 $0.33 $0.29 $0.29 1.4% $0.27 $0.24 Special Dividend $0.16 $0.05 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Dividend Data Date Di
Slide 14: Important Information
Important Information Unless otherwise noted the Report Date referenced herein is as of 12/31/2024. Past performance is not a guarantee of future results. The information contained in this presentation should be viewed in conjunction with the Company’s most recently-filed Quarterly Report on Form 10
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